MW, that doesn't mean they don't have different underlying philosophies. The fact that they come to similar figures shows the balance in society between those calling for higher spending (and voting Labour) and those calling for lower taxes (and voting Tory) If either party shifted too far from this balance they would lose votes from the losers in that change more than they would gain.

The underlying activity of parties is the attempt to shift that balance (e.g. Maggie selling off council houses to create home-owners, NuLbab's tax credits to attach more workers to the state's teat)

That's not so say they spend the money the same way, but despite professed difference in philophy, they both seem similarly authoritarian to me.